Maxx546

It's getting like Play Your Cards Right on here, HIGHER... LOWER...

So if I had gone short on Friday afternoon, hoping that this week was going to see a local top put in and a sizeable correction....  I'd be getting a little bit worried by now.
We've had three days of ranging about which is normal, but this meeting was supposed to be a trigger to send it crashing back down.  It hasn't happened decisively yet, and even a move to the upside appears to be starting to form in shorter timescales.  I'm picking Up for the end of this week as per my poll.

I don't think the rates news is driving it. More likely the next phase  in the Russia-Ukraine war or the Gaza conflict. Gold buying by Central banks serving as a financial buffer for the impending economic ramifications of it all!

For those who asked for a dealer update I'm seeing demand has ticked up a fair bit in the past two weeks. I think those who'd hoped for a dip after £1,750 are now buying with it pushing up to £1,850.
Still plenty of people selling, but more buying again now. Not at mini-budget/banking crisis levels yet, but if it gets any busier you'll start to see banners going up on the various sites. I'd say silver has a slight edge, but still plenty of gold being shifted.

Costco selling as much as $200 million in gold bars monthly:
https://www.cnbc.com/2024/04/09/costco-selling-up-to-200-million-in-gold-bars-a-month-wells-fargo-estimates.html

Interesting one @sixgun!
To be honest, I don't know but let me share what I found.
The 2000 hallmark is a celebratory one, aptly named 'the Millennium hallmark' and could be used in 1999 and 2000, as shown in this pic:

Note date 'a'. (2000)
The outfit IBB is based in Hatton Garden so I don't know why it was assayed in Sheffield rather than London?
They also knocked these out in sterling silver:


Now, as to the bottom hallmark, I can only offer my ideas.
It looks like a 'handshake', I detect Masonic vibes 😇
The 3 triangles may represent Air, Fire and Water (common in symbology).
Perhaps a batch of custom pieces were created for a group, society, members club etc.?
Nice piece 👌 

£1,849.44

Nah! Just look at Police officers nowadays. Barely 5 foot tall woman. And the armed forces directed to exclude white males to instead recruit women/rainbows/woke. Sergeant Major's directed not to shout, but to talk things through in order to provide motivation. Bull dogs versus Pomeranian dog fights have a obvious outcome. As does one side playing by the law that the other side just ignores.

Not yet. I’m sorry. But anyone sane knows it’s over. Peace treaty soon. Stop the killing. It’s a shock if you listen to certain news I know. But even western news are dripping it in now. I don’t think it’s in doubt 🤷‍♂️

They have already lost. It was never winnable. No matter how many Ukrainians the west were willing to sacrifice. 

I am indeed, but I have been buying for a long time I have the luxury of cost averaging which a new stacker would not have
I remember people asking the same thing in 2011 and then panicking and selling up when it dropped £200-250 an ounce, but those same people if they had held on would be up 250+% right now, (from memory we went over £1100 an ounce and dropped back to around £750ish within a few months/couple of years)
The price when you buy only matters if your looking to make quick money, if your looking to hold, gold only ever goes one way in the long haul.  Though buying any dip is always a nice feeling  

Over winter is my quieter time at work, plus family holiday in February....so I've not bought any gold or been in here for a while 😳.  Wish I'd cashed in everything I had and bought gold last year.....it's gone up over £200 an once!!! What the hell happened while I was away? I've always said buy a lot when you can and buy a bit when the the price is up. Now I can't afford any 🤣

Central banks would buy it.
they'll print some new elastic infinity invisible flexible new fancy revalued fiat funny money  to pay for the errors of the past
Of course it'll never happen again 😔🤔

A nice looking chart (thanks to @bobski for the tip 😊

After each weekend, it climbs higher...what about next week? 🤞

I’d do a link thing if I knew how. 

What do you think?
Gold price has been manipulated and artificially kept down over the years by the West. Now that so much physical gold has been bought by the East, they're simply not in a position to control it so much any more. The genie is out of the bottle. People moving to physical gold is a noticeable flag that something is very wrong with the system. Agree or diagree?

Here's the thing though and I've watched this over and over. If gold drops to £1500 on Monday ( which it won't) 95% of the members on here will wet themselves and still not buy. People talk about backing up trucks but in reality they s*** their pants and think it will keep dropping, then miss the dip altogether,.
Buy little and often, then you will hit every dip there is. Today's high will eventually be tomorrow's low.

The US treasury holds 8000 tonnes of gold, that in turn is loaned (non redeemable) to the Fed at $42.42/ounce, so at $2121/ounce market price the Fed has a 50x leverage factor, as though it held 400,000 tonnes of gold (more than all of the gold in world), where as part of that it might buy/sell leveraged versions of paper gold (even more scaling/leverage). The more the price rises the greater its leverage factor. With that the Fed can direct the price of gold to align with the US Dollar (align the dollar to gold). Yes there's much paper gold around, 120 times more paper gold than physical gold, but at the end of the day the one who holds the physical bars wins, even if each bar might have been sold many times over - on paper.
The end game is more likely to arise out of isolationism. The former 'West/capitalism' was predominately the US, Canada, UK, Europe, Australia, Japan. Biden hates the Brits, Trump is a isolationist, and the EU/US are distancing. If/when punitive barriers are erected between the US and UK/EU, along with Australia and Japan preferring to side with its geographically closer neighbours, so the 'West' might be reduced down to just 5% of the global population, US and Canada, with high barriers/tariffs, and disregard of US dollars (international trade settlements made using physical gold rather than US dollars). The giants, Apple ...etc. may very well look to relocate outside of the US when otherwise trade barriers limit their market to just the US/Canada. As will the US's ability to export inflation (print/spend dollars) end, it will have to settle international trade in physical gold, see its ability to fund a massive military might end, combined with high domestic inflation, perhaps even hyperinflation. Most empires last around a century before decline, especially fiat based empires. The longer surviving empires are typically gold based.
The US lost in Vietnam, is losing in Ukraine and in Israel, lost in Afghanistan, is alienating the UK and Europe. Is directing its own decline. And yes, as part of that it will see the decline of its ability to manipulate gold along with a potential rapid mass exodus away from the US Dollar as the official international trade settlement currency.

Gold seems to be saying….

So what caused the earthquake in NYC ?
Was it Hamas, Putin or Trump ?
or a collaboration of all three forming an Axis of Evil ?

omg😂😂😂😂😂😂🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

I agree with your Portuguese bullion dealer. If and when metal prices moon all that will be offered is spot. That's fine though as you'll still have made an absolute killing
The numismatic pieces are not linked to the spot price of gold, they are a different market. I believe the super rare and desirable pieces will continue to appreciate as these are only affordable by the financially comfortable and the outright filthy rich. That demographic is getting richer by the day while the rest of us are eaten alive by the cost of living and inadequate wages that are not keeping up with inflation

I was reading a post on here the other day (apologies for being unable to remember the member who wrote it off the top of my head) where it was mentioned that with the higher gold spot price some of the more common and less desireable proof sovs are already being thrown in the melting pot so we're kind of there already without the SHTF situation. That being said...
I think a reality check is probably helpful in actually answering this question.
Things like proofs and graded coins, etc only have a value uplift because enough of us desire them to give them a value uplift. The market which gives that value uplift is something that exists because of our modern way of living. In a crisis scenario where we no longer have access to our modern way of life priorities will naturally change and frankly pretty much anything that we currently assign a collectable value to will lose that because people won't care. Your priorities will be survival, safe passage, etc for you, your family and loved ones. Your priorities will not be what a paper label says inside a plastic slab or how shiny the finish is on your coins.

Psychologically, it must be a difficult time to enter the market.
The forum began in 2014 and folk getting onboard then saw the 2011 highs and thought PMs were a bargain! Gold had fallen from £1100 to £700 and silver from £28 to £10.
It was comforting to know that the price of gold and silver had been higher before, which is not the case today.
Entering the market, and being confident in my decisions led me to (to use a BYB phrase), 'front load' my PM investment. It paid off, fortunately, but could quite easily had gone the other way.
It really has been a super hedge.
I'm still buying, not as aggressively of course, and I encourage others to keep up because the value of all fiat currencies are only, and can only, go one way.
'Keep stacking' (@sixgun 2016 😊)